Neo Ivy Capital Management Makes New $561,000 Investment in Ferguson plc (NASDAQ:FERG)

Key Points

• Neo Ivy Capital Management has acquired 3,500 shares of Ferguson plc, valued at approximately $561,000, during the first quarter of the year.
• Ferguson recently reported an EPS of $2.50, exceeding analyst estimates by $0.44, with quarterly revenue increasing by 4.3% year-over-year.
• The company will pay a quarterly dividend of $0.83 per share on August 6th, representing a 1.48% yield.

Neo Ivy Capital Management purchased a new position in shares of Ferguson plc (NASDAQ:FERG - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,500 shares of the company's stock, valued at approximately $561,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LGT Financial Advisors LLC raised its position in Ferguson by 106.3% during the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after acquiring an additional 102 shares in the last quarter. Grove Bank & Trust boosted its holdings in Ferguson by 247.4% during the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after buying an additional 141 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after buying an additional 74 shares in the last quarter. Whipplewood Advisors LLC raised its position in shares of Ferguson by 166.7% in the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after acquiring an additional 130 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of Ferguson during the 1st quarter worth about $46,000. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Trading Up 0.4%

NASDAQ FERG traded up $0.81 during trading on Wednesday, hitting $227.77. The stock had a trading volume of 215,298 shares, compared to its average volume of 1,771,787. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $44.91 billion, a PE ratio of 27.34, a PEG ratio of 1.69 and a beta of 1.17. The firm has a 50 day moving average price of $211.96 and a 200 day moving average price of $185.30. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $228.54.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. During the same period in the previous year, the company earned $2.32 earnings per share. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a yield of 1.46%. Ferguson's dividend payout ratio (DPR) is presently 41.40%.

Analyst Ratings Changes

FERG has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price target on the stock. Truist Financial reaffirmed a "buy" rating and issued a $230.00 price target on shares of Ferguson in a research note on Wednesday, June 4th. Morgan Stanley restated an "overweight" rating and issued a $220.00 target price (up previously from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferguson in a research report on Tuesday, April 1st. They issued a "hold" rating and a $174.00 target price for the company. Finally, Wells Fargo & Company increased their price target on Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $220.64.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.